BrightSpire Capital (NYSE:BRSP) Releases Quarterly Earnings Results, Misses Estimates By $0.02 EPS
by Danessa Lincoln · The Markets DailyBrightSpire Capital (NYSE:BRSP – Get Free Report) announced its quarterly earnings data on Tuesday. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.02), FiscalAI reports. BrightSpire Capital had a negative net margin of 24.16% and a positive return on equity of 7.46%.
BrightSpire Capital Stock Performance
Shares of BrightSpire Capital stock traded up $0.01 on Tuesday, reaching $5.25. 1,665,415 shares of the stock were exchanged, compared to its average volume of 1,100,888. The business has a 50 day moving average price of $5.51 and a two-hundred day moving average price of $5.70. The firm has a market capitalization of $683.31 million, a price-to-earnings ratio of -19.43 and a beta of 1.28. BrightSpire Capital has a twelve month low of $4.93 and a twelve month high of $6.16. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 2.40.
BrightSpire Capital Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were issued a dividend of $0.16 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 12.2%. BrightSpire Capital’s payout ratio is -237.04%.
Wall Street Analysts Forecast Growth
BRSP has been the topic of a number of recent analyst reports. JonesTrading restated a “buy” rating and set a $6.50 price target on shares of BrightSpire Capital in a research note on Wednesday, June 3rd. Weiss Ratings downgraded shares of BrightSpire Capital from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, May 26th. Finally, BTIG Research raised shares of BrightSpire Capital from a “neutral” rating to a “buy” rating and set a $7.00 price objective on the stock in a report on Wednesday, April 22nd. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $6.75.
Get Our Latest Stock Analysis on BRSP
Hedge Funds Weigh In On BrightSpire Capital
Institutional investors have recently bought and sold shares of the business. National Bank of Canada FI lifted its stake in BrightSpire Capital by 50.0% during the 3rd quarter. National Bank of Canada FI now owns 7,500 shares of the company’s stock valued at $41,000 after acquiring an additional 2,500 shares during the period. CIBC Private Wealth Group LLC increased its stake in shares of BrightSpire Capital by 812.1% in the third quarter. CIBC Private Wealth Group LLC now owns 10,945 shares of the company’s stock worth $59,000 after acquiring an additional 9,745 shares during the period. Tower Research Capital LLC TRC increased its stake in shares of BrightSpire Capital by 101.2% in the second quarter. Tower Research Capital LLC TRC now owns 11,930 shares of the company’s stock worth $60,000 after acquiring an additional 6,001 shares during the period. BNP Paribas Financial Markets raised its holdings in shares of BrightSpire Capital by 73.2% during the second quarter. BNP Paribas Financial Markets now owns 12,576 shares of the company’s stock worth $64,000 after purchasing an additional 5,314 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its holdings in shares of BrightSpire Capital by 6,025.5% during the third quarter. Russell Investments Group Ltd. now owns 12,251 shares of the company’s stock worth $67,000 after purchasing an additional 12,051 shares during the last quarter. 56.57% of the stock is owned by hedge funds and other institutional investors.
BrightSpire Capital Company Profile
BrightSpire Capital Inc (NYSE: BRSP) is a real estate investment trust (REIT) specializing in commercial real estate debt. The company primarily originates, acquires and manages a diversified portfolio of mortgage loans, mezzanine loans and preferred equity investments secured by office, retail, industrial, multifamily and hospitality assets across the United States. By focusing on income-producing credit instruments, BrightSpire seeks to deliver attractive risk-adjusted returns to its shareholders through regular dividend distributions.
BrightSpire’s investment strategy spans the capital structure of commercial real estate, with an emphasis on senior mortgages that offer more stable cash flows and downside protection.
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